JG Summit Petrochemical Group Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018
May 15, 2018 at 04:04 am EDT
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JG Summit petrochemical group reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenue of PHP 70,675,838 compared to PHP 67,506,700 for the same period last year. Operating Income of PHP 11,905,951 compared to PHP 13,686,644 for the same period last year. Income before income tax of PHP 8,618,319 compared to PHP 11,283,094 for the same period last year. Net income attributable to equity holders of parent company of PHP 4,821,929 compared to PHP 7,511,944 for the same period last year. Basic and diluted earnings per share of PHP 0.67 compared to PHP 1.05. Net cash provided by operating activities of PHP 8,719,915 compared to PHP 14,562,258 a year ago. EBITDA of PHP 4.99 billion compared to PHP 5.57 billion for the same period last year. Acquisitions of property, plant and equipment was PHP 8,381,285 compared to PHP 6,628,615 and acquisitions of intangible assets was PHP 52,628 compared to PHP 129,611 a year ago. Book value per share as at March 31, 2018 was PHP 37.98 compared to PHP 37.39 as at December 31, 2017.
JG Summit Holdings, Inc. is a holding company for a group of companies with substantial business interests in branded consumer foods, agro-industrial and commodity food products, real estate and hotel, air transportation, banking and financial services, and petrochemicals. It also has core investments in telecommunications and power generation and distribution. The Foods, Agro-Industrial and Commodities businesses segment is engaged in manufacturing and distribution of a diverse mix of salty snacks, chocolates, candies, biscuits, bakery products, beverages and others. The Air Transportation segment include air transport services, both domestic and international, for passengers and cargos, and line and light maintenance services. The Petrochemicals segment is a manufacturer of polyethylene (PE), polypropylene (PP), polymer grade ethylene, polymer grade propylene, partially hydrogenated pyrolysis gasoline, pyrolysis fuel oil, aromatics, butadiene and liquefied petroleum gas (LPG).